5. Interest rate. A 2-year loan of $4650.25 accumulated $269.75 in simple interest. Calculate the interest rate. Round to 1 decimal place.

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 19E
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5. Interest rate. A 2-year loan of $4650.25
accumulated $269.75 in simple interest. Calculate
the interest rate. Round to 1 decimal place.
us.
2
Transcribed Image Text:5. Interest rate. A 2-year loan of $4650.25 accumulated $269.75 in simple interest. Calculate the interest rate. Round to 1 decimal place. us. 2
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